Ontario Teachers’ Pension Plan earned a 2.1-per-cent return on its investments in the first six months of the year, adding $6-billion of income to the fund in spite of a challenging quarter for privately owned assets.
The total assets the pension plan manages increased to $269.6-billion, up $3.3-billion from the end of 2024. Teachers paid out more in benefits to retired members than it took in from new contributions by working members, offsetting some of the investments gains.
Over the span of one year, to June 30, Teachers earned a 7.1-per-cent return, and on average the fund has gained 6.9 per cent annually over the past 10 years.
Publicly traded assets, especially gold, provided most of the fund’s gains in the first half of the year. Private assets such as real estate, infrastructure and private equity “were generally flat to negative in the period reflecting a challenging environment in those asset classes at present,” chief executive officer Jo Taylor said in statement.
“The results for the first half of 2025 show the ability of our investment portfolio to generate a positive return while maintaining a cautious position on risk given prevailing market conditions,” he added.
Teachers manages pensions for about 343,000 members in Ontario, including working and retired teachers.
The fund had a $29.1-billion preliminary funding surplus as of January 1, 2025.